H.B. No. 163 Summary

• Amends section 1301.201 of the Ohio Revised Code to exclude central bank digital currencies from the definition of "money" under the Ohio Uniform Commercial Code.

• Defines "central bank digital currency" as digital currency, digital medium of exchange, or digital monetary unit issued by the U.S. Federal Reserve, federal agencies, foreign governments, foreign central banks, or foreign reserve systems that is made directly available to consumers or processed/validated directly by such entities.

• Modifies the definition of "money" to explicitly state that the term does not include central bank digital currencies, while continuing to include currencies authorized or adopted by domestic or foreign governments and monetary units established by intergovernmental organizations.

• Renumbers subsequent definitions in section 1301.201 from (10) through (43) to (11) through (44) to accommodate the new central bank digital currency definition.

• Repeals the existing version of section 1301.201 and replaces it with the amended version.